Businesses often are challenged to obtain the funding needed to thrive in difficult economic environments. One way to obtain needed cash is through Spot Factoring, an often overlooked source of Working Capital.
Banks are happy to make loans to businesses with very strong financials and long-standing relationships with the lender, but that leaves many businesses without a reliable source of working capital. If you have customers with outstanding invoices, but you need cash now, consider “Spot” Factoring.
As the economy enters a period of reduced economic activity, many anticipate a further tightening of credit parameters at traditional lenders. The effect of this slowdown and increasing interest rates is likely to result in additional loan defaults. These defaults may cause lenders to further restrict credit.
The process of converting an invoice into cash can take as little as a few days.
If your sales are to strong businesses or to government entities, there is a good chance your business could be a fit for spot factor. Industries which tend to be an excellent match for factoring include manufacturing, wholesaling/distribution, trucking, staffing, consulting.
The product or service you sell is less important that the customers to which you sell.
The International Factoring Association is a great resource for how factoring can meet your working capital needs.
Learn more about non-recourse accounts receivable factoring.
Convert a single invoice into cash in a matter of days.
Funding from $10k to $10 Million.
75% – 90% advance against AR.
Most B2B and B2G businesses are eligible.
Contact us to learn more about Spot Factoring as a source of Working Capital.
203-200-0594
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